When I looked at the official statistics from the government on income... I was SHOCKED to discover that I was in the top 3% of all income earners. I knew I was better off than most in my area, but ... with places like New York and California and their sky high salaries I didn't imagine in a million years I was that much wealthier.
Yea.... I've had a similar experience. But, I'm pretty sure we're NOT in the top 3% of the "wealthiest" people... just "income earners". The truly wealthy don't have much "earned income"... their money all comes from dividend and capital gains.
So, knock yourself down another 5-6%.
I'm also quite sure, a BUNCH of people are grossly under-reporting their income. Go figure. After 80 years of taxing INCOME, people have figured out how to get compensated in "other" ways, or "non-traceable" ways.
So, you are part of the PROBLEM! < /sarc >
My kids’ kindergarten teacher retired last year with a Gov’t $80,000 pension.
Given today’s zero interest-rate policy from our Federal Reserve, that makes the net present value of that pension worth how much? $5 million?
Instant millionaire!
Was that before or after taxes?